Clarion Gramercy has purchased 5 logistic assets from CBRE GI for €30 million. The 5 properties have a combined GLA of 60.000 sqm and are all located in Madrid’s first logistics belt in the town of San Fernando known in he sector as the Corredor de Henares which is currently experiencing a significant growth.
This is the second sale CBRE GI completes in Spain so far this year. The first was that of Edifício Axis (which is currently being refurbished) to GPF Capital for €100 million. Since 2017, the fund is reported to have transacted over €2.9 billion in assets in the Iberian peninsula alone.
Last year Clarion Partners, LLC, a leading US real estate investment management business with $50 billion of assets under management, and Gramercy Europe (Jersey) Limited, a European real estate business specializing in pan-European logistics and industrial assets, announced that Clarion had acquired a majority stake in Gramercy Europe. Gramercy Europe thus became an operating business of Clarion and has since been rebranded as Clarion Gramercy, maintaining its offices in London, Berlin and Barcelona.
Clarion Gramercy was advised by Herbert Smith Freehills whilst CBRE GI was advised by CBRE with the legal support of Pérez-Llorca.